Risk Management Plan

What is the Risk Management Plan?

The Risk Management Plan outlines the risk and issue management strategies that are to be employed within the Project.

The Risk Management Plan is used to define both the risk and issue management processes that will endeavour to minimise problems within the Project.

Document Contents

The "Project Details" tab has the following properties:

Name Description Possible Values
ID - Title The unique Project identifier and the title of the Project. These properties are set on the Project and cannot be modified within the Risk Management Plan.
Description The Project description. This property is set on the Project and cannot be modified within the Risk Management Plan.
Background Describes where the idea for the Project originated. This property is set on the Project Mandate and cannot be modified within the Risk Management Plan.
Objectives Describes what the Project is to achieve. This property is set on the Project Mandate and cannot be modified within the Risk Management Plan.
Justification Describes the justification for the Project in terms of cost versus benefit. This property is set on the Project Mandate and cannot be modified within the Risk Management Plan.
Sponsor(s) The Project Sponsor is a senior management position whose role is to own the Project and to ensure that the benefits are fully realised. This property is set on the Project Mandate and cannot be modified within the Risk Management Plan.

The "Document Purpose" tab has the following properties:

Name Description Possible Values
Document Purpose Provides context for the reader by describing the purpose of the Risk Management Plan and what it is used for. Rich Text.
Document Scope Defines what is included in and excluded from the Risk Management Plan document. Rich Text.

The "Risk Management Strategy" tab has the following properties:

Name Description Possible Values
Risk Management Strategy Describes the overall risk management strategy that is to be employed within the Project. Rich Text.
Risk Identification Defines the risk identification process. Rich Text.
Risk Register Defines where the risks will be stored. Rich Text.
Risk Impact Assessment Defines the risk impact assessment process. Rich Text.
Risk Response Planning Defines the risk response planning process. Rich Text.
Risk Periodic Reviews Defines the risk review process. Rich Text.

The "Issue Management Strategy" tab has the following properties:

Name Description Possible Values
Issue Management Strategy Describes the overall issue management strategy that is to be employed within the Project. Rich Text.
Issue Identification Defines the issue identification process. Rich Text.
Issue Register Defines where the issue will be stored. Rich Text.
Issue Impact Assessment Defines the issue impact assessment process. Rich Text.
Issue Response Planning Defines the issue response planning process. Rich Text.
Issue Periodic Reviews Defines the issue review process. Rich Text.

The "Risk Response Plan" tab has the following properties:

Name Description Possible Values
Response Matrix Identifies the recommended response according to the probability of the risk occurring multiplied by the impact to the project if it becomes an issue. Accept, Mitigate, Transfer or Eliminate.